Govt policy moves from the past week

The State Council has approved the establishment of an open economy pilot zone in Eastern China's Jiangxi province, according to a circular released on April 13.

The general construction plan will be issued by the National Development and Reform Commission.

The circular said construction of the pilot zone should adhere to new development concepts, promote high-quality development and focus on supply-side structural reform.

It should also actively integrate with the Belt and Road Initiative, participate in the development of the Yangtze River Economic Belt, and coordinate with the construction of the Guangdong-Hong Kong-Macao Greater Bay Area and the integrated development of the Yangtze River Delta.

The pilot zone should tap into regional cooperation potential, promote the free and efficient flow of resources, accelerate the construction of an open market, and explore a new development path that advances reform, development and innovation through opening-up, it said.

It urged the Jiangxi provincial government to reinforce leadership during the construction of the pilot zone, improve work mechanisms and work out detailed plans for implementation.

State Council departments will strengthen guidance and support for the construction and development of the pilot zone. The NDRC should enhance coordination and supervision, and present timely reports on major issues to the State Council, the circular said.

More government support for job creation

The State Council decided at an executive meeting on April 14 to lend more support to companies and make more efforts to create jobs.

The number of graduates from China's colleges will reach a record high this year, and their job opportunities have been affected by the novel coronavirus pneumonia pandemic, the meeting was told.

The Cabinet decided the authorities should step up guaranteed loan support for startup companies and encourage people to start their own businesses.Employers should develop more job vacancies for science research assistants so that more people can work as teachers and medical workers at the grassroots level.

Graduates will also be encouraged to start their own businesses or find jobs in neighborhood services. The authorities should work on policies to extend payment terms for student loans and give special support to graduates from universities in Hubei province, the part of China hit hardest by the pandemic.